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Mortgage Broker Fort Lauderdale FL | Florida State Mortgage Group, Inc.

Florida State Mortgage Group, Inc. are mortgage brokers in Fort Lauderdale, offering a comprehensive selection of loan options. Call us at (954) 359-3000.

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(954) 359-3000

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How To Improve Your Credit Score When Refinancing Your Home

December 18, 2020 by admin

If you’re considering refinancing your home, you’re probably aware of the importance of having a good credit (FICO) score.  Having a good credit score improves your chances of getting a better interest rate on your mortgage.  Despite the many TV commercials and tons of online advertisements you’ve seen, improving one’s credit score is often a tedious process.

 

Buy a Home in Fort Lauderdale

 Enhance Your Credit Score

Many of those “credit quick-fixes” that you see often do more harm than good.  However, if you follow the 4 steps listed below, you’ll start to see your credit score climb in a relatively short period of time.

  • Consolidate your debt – shifting your debt between different sources won’t improve your credit score. However, if you can consolidate several accounts into one, this can help.  You can actually gain a few points on your credit score if you have fewer creditors but the same amount of debt.  Since department store cards have higher interest rates, consider transferring those accounts into a single credit card account.
  • Pay off a portion of your revolving debt – if possible, pay off some of your credit card debt. Focus on paying off those with the highest interest rate.  Talk with a credit expert who can help you develop a credit plan.  Just keep in mind that paying off all of your revolving debt and not having anything to show to the credit reporting agencies can negatively impact your credit score.
  • Pay your monthly bills on time – staying current with on-time payments is one of the best ways to build a good credit score. There’s nothing you can to eliminate past late payments.  However, your current status carries more weight than your past credit history, so pay your bills on time.  You might want to consider setting up automatic bill payments on your regular monthly bills.  This will ensure that your payments are always on time.
  • Review your credit report for errors – this should be your first step towards improving your credit score, so contact the 3 primary credit reporting agencies and request copies of your credit report in order to check them for errors. Check all outstanding balances and ensure that they’re up to date.  Furthermore, look at any late payments to see whether or not they were actually late.  File disputes with the agencies if you find any errors as fixing them will boost your credit score quickly.

Call us at Florida State Mortgage Group

We would be glad to help you get the best rates when you refinance. For more information on improving your credit score, call Florida State Mortgage Group, Inc. at (954) 359-3000 or visit our website today. Our business representatives are available to assist you.

 

Filed Under: Refinance Tagged With: Florida, Fort Lauderdale, Mortgage Refinance Tips

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Fort Lauderdale's Top-Rated Mortgage Company

Florida State Mortgage Group, Inc. is located on 1512 E Broward Blvd #204A, Fort Lauderdale. From Fort Lauderdale-Hollywood International Airport (FLL) head northwest toward Terminal Dr/Upper Terminal Dr and use the right 2 lanes to turn slightly right onto Terminal Dr/Upper Terminal Dr. Then use the left lane to keep right at the fork and follow signs for Departures and use the left lane to continue toward US-1 N. Next, keep left at the fork, follow signs for US-1 N/Ft Lauderdale and merge onto US-1 N. After that merge onto US-1 N and keep left to stay on US-1 N. Finally, turn right onto E Broward Blvd and Florida State Mortgage Group, Inc. will be on your right.

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Florida State Mortgage Group, Inc.
1512 E Broward Blvd #204A
Fort Lauderdale, FL 33301
Phone: (954) 359-3000
Fax: 954-449-0283
NMLS# 393326
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Florida State Mortgage Group, Inc, Mortgage Broker, Fort Lauderdale, FL
Equal Housing Lender

Florida State Mortgage Group, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

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